For reasons to be presented in today's regular Stock Trading Alert, it appears that the sharp correction of recent days is closer to its end that its beginning. That doesn't make though another push lower impossible - and we're seeing it right now in the premarket trading.

Let's take advantage of a temporary selloff that's likely to get resolved with another S&P 500 upswing once the correction runs its course in time. The risks still remain skewed to the upside rather than to the downside - please see below.

Trading position (short-term; futures; our opinion): long positions (100% position size) (entered at market, which is 3406) with stop-loss at 3320 and initial upside target at 3450 are justified from the risk-reward perspective.

Thank you.

Monica Kingsley
Stock Trading Strategist
Sunshine Profits: Analysis. Care. Profits.